Don’t let Pyramid Schemes loot your money…

Seminar details: Every year, tens of thousands of “Double-your-money” schemes which offer instant riches are eating into the savings of people. These schemes (also called Ponzi or pyramid marketing schemes) are banned in many countries. But in India, they fly below the radar because of ineffective legislation and burn a big hole into the savings of Indians across the economic spectrum. There are schemes that are aimed at the poorest of people, by dazzling them with the hope of quick money and there are schemes aimed at the gullible but wealthy. Ms Sucheta Dalal explains how exactly these schemes lure and con so many people.